HRC export offers from China have weakened further this week and are presently heard at USD 415-420/MT, FoB China. Last week offers were at USD 440-445/MT, FoB China. Steel mills have reduced offers post decline in domestic HRC prices dropped further today and hit six-month low. Domestic HRC prices in China fell owing to inventory pressure.
Japan HRC export offers remain stable this week –
Japanese HRC export offers have remained stable this week. Market participants shared that overseas buyers seemed to have adopted ‘wait & see’ approach before concluding deals amid volatile market. Japanese HRC export offers are presently heard at USD 480-500/MT, FoB Japan.
Indian HRC export offers at USD 500/MT, FoB –
Indian HRC export offers were heard at USD 500/MT, FoB for Europe but no deals have been concluded so far as export offers from China remained competitive
CIS-Countries HRC Offers fell by USD 10/MT-
CIS-origin HRC prices declined by USD 10/MT owing to fall in China’s HRC export prices,Prices remain under pressure and are hovering in the range of USD 440-460/MT,FoB Black Sea.
Last week the HRC export offers was heard in the range of USD 450-460/MT on FoB basis.
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